Armstrong World Industries Inc. (AWI) Receives $43.55 Consensus PT from Analysts
Shares of Armstrong World Industries Inc. (NYSE:AWI) have received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.55.
AWI has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Royal Bank Of Canada dropped their price target on shares of Armstrong World Industries from $47.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 1st. Bank of America Corp. set a $39.00 price target on shares of Armstrong World Industries and gave the company a “sell” rating in a research note on Tuesday, October 4th. Evercore ISI initiated coverage on shares of Armstrong World Industries in a research note on Monday, November 14th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Zelman & Associates lowered shares of Armstrong World Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st.
Shares of Armstrong World Industries (NYSE:AWI) opened at 41.65 on Friday. Armstrong World Industries has a 52 week low of $35.92 and a 52 week high of $50.11. The firm’s 50-day moving average is $39.68 and its 200 day moving average is $40.91. The firm has a market capitalization of $2.30 billion, a PE ratio of 36.70 and a beta of 1.37.
Armstrong World Industries (NYSE:AWI) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.76 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $334.90 million for the quarter, compared to analyst estimates of $343.50 million. Armstrong World Industries had a net margin of 3.55% and a return on equity of 22.79%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts forecast that Armstrong World Industries will post $2.25 earnings per share for the current year.
In related news, Director Roy W. Templin purchased 2,670 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average cost of $37.16 per share, with a total value of $99,217.20. Following the completion of the acquisition, the director now directly owns 4,816 shares in the company, valued at $178,962.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC increased its stake in Armstrong World Industries by 7.0% in the first quarter. TIAA CREF Investment Management LLC now owns 65,412 shares of the company’s stock worth $3,164,000 after buying an additional 4,283 shares during the period. Geode Capital Management LLC increased its stake in Armstrong World Industries by 2.4% in the first quarter. Geode Capital Management LLC now owns 279,917 shares of the company’s stock worth $13,539,000 after buying an additional 6,476 shares during the period. Balter Liquid Alternatives LLC acquired a new stake in Armstrong World Industries during the first quarter worth approximately $419,000. BNP Paribas Arbitrage SA increased its stake in Armstrong World Industries by 19.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,863 shares of the company’s stock worth $425,000 after buying an additional 1,756 shares during the period. Finally, New England Research & Management Inc. increased its stake in Armstrong World Industries by 9.4% in the second quarter. New England Research & Management Inc. now owns 18,050 shares of the company’s stock worth $707,000 after buying an additional 1,550 shares during the period.
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About Armstrong World Industries
Armstrong World Industries, Inc is a producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings. The Company operates in four segments: Building Products, which produces suspended mineral fiber, soft fiber and metal ceiling systems for use in commercial, institutional and residential settings; Resilient Flooring, which designs, manufactures, sources and sells a range of floor coverings primarily for homes and commercial and institutional buildings; Wood Flooring segment, which designs, manufactures, sources and sells hardwood flooring products for use in new residential construction and renovation, with some commercial applications in stores, restaurants and high-end offices, and Unallocated Corporate.
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